THE PRINCIPAL COMMISSIONER O INCOME TAX vs. THE MARATHA COOPERATIVE BANK LTD.,

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ITA/100109/2015HC KarnatakaKAHC02009232201516 December 2015Bench: S.ABDUL NAZEER,P.S.DINESH KUMAR2 pages
AI SummaryWithdrawn

What did the High Court hold?

The Tribunal noted the submission of the learned counsel appearing for the appellants (Revenue) that the appeal was not being pressed in view of Circular No. 21/2015 dated December 10, 2015. The submission of the learned counsel was placed on record. Consequently, the appeal was dismissed as withdrawn. No costs were awarded. The specific findings of the Tribunal on the merits of the case, which were under challenge, were not addressed as the appeal was withdrawn by the Revenue.

What were the facts?

The appeal was filed by the Principal Commissioner of Income Tax and the Income Tax Officer, TDS Ward, Belgaum (the Revenue) against an order of the Income-Tax Appellate Tribunal, Panaji Bench, dated March 25, 2015. The order pertained to Assessment Year 2010-11. The Revenue sought to set aside the Tribunal's order and confirm the order passed by the Income Tax Officer, TDS Ward, Belgaum. The respondent in the appeal was The Maratha Co-operative Bank Ltd.

What were the issues?

1. Whether the appeal filed by the Revenue under Section 260A of the Income-Tax Act, 1961, should be allowed to set aside the order of the Income-Tax Appellate Tribunal for Assessment Year 2010-11. Contentions: Assessee: No arguments are recorded for the assessee as the appeal was withdrawn by the Revenue. Revenue: The Revenue, through its counsel, submitted that it does not press the appeal in view of Circular No. 21/2015 dated December 10, 2015.

Which sections of the Income-tax Act were involved?

Section 260A

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF KARNATAKA DHARWAD BENCH DATED THIS THE 16TH DAY OF DECEMBER, 2015 PRESENT THE HON’BLE MR.JUSTICE S. ABDUL NAZEER AND THE HON’BLE MR.JUSTICE P.S.DINESH KUMAR ITA No.100109 OF 2015 BETWEEN: 1. THE PRINCIPAL COMMISSIONER OF INCOME TAX, DR B R AMBEDKAR ROAD, BELAGAVI. 2. THE INCOME TAX OFFICER, TDS WARD, BELGAUM. ..... APPELLANTS (BY SRI. Y V RAVIRAJ, ADV.) AND THE MARATHA CO-OPERATIVE BANK LTD., 1477, BASAVAN GALLI, BELGAVI. ..... RESPONDENT THIS ITA IS FILED UNDER SECTION 260A OF THE `INCOME-TAX ACT, 1961 PRAYING TO (a) FORMULATE THE SUBSTANTIAL QUESTION OF LAW STATED ABOVE; (b) ALLOW THE APPEAL AND SET - ASIDE THE ORDERS PASSED BY THE INCOME - TAX APPELLATE TRIBUNAL, PANAJI BENCH PANAJI, IN ITA NO.432/PNJ/2014, DTD:25.03.2015 FOR THE

2 ASSESSMENT YEAR 2010-11 AND CONFIRM THE ORDER PASSED BY THE INCOME TAX OFFICER TDS WARD, BELGAUM. THIS ITA COMING ON FOR ORDERS THIS DAY, P.S.DINESH KUMAR, J., DELIVERED THE FOLLOWING: JUDGMENT Sri Y.V.Raviraj, learned counsel appearing for the appellants submits that he does not press this appeal in view of the circular No.21/2015 in F.No.279/ Misc.142/2007-ITJ(Pt), dated 10.12.2015. 2. The submission of the learned counsel appearing for the appellants is placed on record. The appeal is dismissed as withdrawn. No costs. Sd/- JUDGE. Sd/- JUDGE. Naa

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